Free Tuesday Trends sample: Quad/Graphics rising, energy mixed and Lunda Construction falling
Below is an excerpt from the most recent edition of WisBusiness Tuesday Trends.
The full version of this weekly look at the state of Wisconsin business is available for free to anyone who signs up for the Tuesday Trends mailing list.
The full product includes several items in each of the rising, mixed and falling categories plus a look at upcoming business events across the state.
To get the full version of Tuesday Trends in your inbox every week, sign up now for the free mailing list. (If the preceding link does not work for you, simply send an e-mail to email@example.com with "Subscribe to trends" in the subject line.)
WisBusiness also publishes a summary of state business news sent to paid subscribers every weekday.
Sign up for a free two-week trial of WisBusiness subscriber products.
Quad/Graphics: The Sussex-based printing giant announces a pair of large deals, beginning with an agreement to extend and expand an existing deal to print Time Inc. magazines. Under the new $900 million deal, which would begin in 2014, Quad would handle more than 85 percent of the print work for 19 magazine titles, among them Time, People, Sports Illustrated and Fortune. The agreement represents a 35 percent increase in the company's incremental volume over the term of the multi-year agreement. Quad also announces a $258.5 million deal to acquire marketing communications company Vertis Holdings Inc. Baltimore-based Vertis will voluntarily file for Chapter 11 bankruptcy relief to facilitate the sale, which Quad/Graphics officials say will enhance the company's position as a leader in retail advertising and direct marketing.
Energy: A new report says Wisconsin should be taking advantage of its prosperous agriculture and food processing sectors to become a national leader in bioenergy production. The study, completed by the Wisconsin Bioenergy Initiative, said the state has 4.77 million dry tons of dairy cow manure alone per year -- enough to replace the energy output of a large-scale coal plant and a way to offset some of the nearly $19 billion used to import energy to the state. But in the short term, energy costs will increase, according to We Energies. The utility says its customers should anticipate paying roughly 9 percent more to heat their homes this winter, based on projections of natural gas prices during normal winter weather. But We Energies says that increase is largely due to a steep drop in costs last winter stemming from record high temperatures; overall, the anticipated costs are still less than most winters over the past decade.
Lunda Construction: The construction company based in Black River Falls has been fined the maximum of $21,000 by the Occupational Health and Safety Administration for three violations found in the investigation of the April death of a construction worker on repairs of U.S. Highway 41 in Brown County. The administration cited training, supervision and procedural safety violations as officials said the accident could have been prevented. OSHA has inspected Lunda 14 previous times and recorded seven previous citations since 2007. A second investigation surrounding a death on the Highway 41 project is also pending; a Green Bay truck driver was killed in July when crane boom operated by a Lunda employee struck him.